- U.S Markets closed lower Yesterday.
- Right now , Asian Markets are flat.
- SGX Nifty is at 17880.
- We are likely to have a gap down opening today.
- 17800 PE added high open interest yesterday.
- This should be a strong support for the Markets.
- Dips should be bought into with a stoploss of 17800 on Nifty.
- Bank Nifty outperformed Yesterday and took Nifty higher.
- IT index fell 3% yesterday still Nifty managed to cross 18k.
- 17800 to 18k is the range for Nifty in short term.
- Expecting some recovery in the IT Sector from here.
- TCS results were good but the street expectations were too high.
- Tomorrow , Infosys is coming with the results and that's going to be an important event for the Markets.
- Sectoral Rotation has been happening and money is being from IT sector to Banks.
- That's the reason of outperformance of Banks yesterday.
- 18000 CE continues to have high open interest inspite of nifty crossing 18k yesterday.
- Nifty might Trade between 17800 to 18040 today
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Asian markets are higher. SGX nifty is up 150 points. Yesterday was a very tricky and unexpected session. As soon as Market opened there was a continuous selling. Market was falling left , right and center without taking any support. I was wondering why is the Market going against the global cues Then we got the news about RBI Governer press conference. So some informed people already knew about this rate hike. Hence there was a sudden selling in the markets. RBI hiked repo rate by 40 basis points and Cash Reverse ratio by 50 basis points. Repo rate is the rate at which banks borrow money from RBI. When the rate is increased banks borrow money at higher cost and in turn loans also get costlier. This slows down the growth and liquidity in the Market temporarily. Cash reserve ratio is the interest free deposit money which banks have to keep with RBI. RBI uses that money without having to pay any interest on it. Increasing CRR means RBI is
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